On Tuesday morning, Twitter was surrounded by saddened tweets at the news of the departure of this social media’s Chief Operating Officer, Anthony Noto. Noto will be leaving Twitter and joining the financial tech company, SoFi as CEO.
Twitter users have expressed their discontent at the decision made by Noto, since he was viewed as an experienced, respected worker amongst the company, investors and the public eye. Not only that, but Noto earned the trust of his colleagues, and was praised constantly, whereas Twitter’s current CEO, Jack Dorsey has received criticism for serving as head of two companies simultaneously.
However, this could be a great opportunity for Noto’s career, as it widely involves his skill set and would improve and shape up a startup valued in billions that would be in need of the former Twitter COO’s abilities and extensive experience.
Jack Dorsey released a tweet regarding Noto’s departure, stating, “I’m really sad to see @anthonynoto leave us, but I’m happy for him and really proud of everything he’s accomplished at Twitter. He’s been a friend, partner, and mentor to me for years. He always has my support and gratitude. Thank you Anthony! We love you”
I’m really sad to see @anthonynoto leave us, but I’m happy for him and really proud of everything he’s accomplished at Twitter. He’s been a friend, partner, and mentor to me for years. He always has my support and gratitude. Thank you Anthony! We love you. https://t.co/wdI0rJqIck
— jack (@jack) January 23, 2018
Who is Anthony Noto, Twitter’s former COO?
Noto, born in 1968, was the managing director of the widely known finance corporation, Goldman Sachs, he was also the Chief Financial Operating Officer (CFOO) of the National Football League.
He joined the Twitter headquarters in July 2014 as CFO, where he managed to earn an almost impeccable reputation for the three and a half years he worked at the company. That is, of course, until now that he is the CEO at SoFi, another financial firm that provides student loans refinancing, mortgages and personal loans.
Noto is “an operator, and those who have worked with him say he’s a get-shit-done kind of leader who doesn’t drag his feet or wavers on decisions,” Recode’s Kurt Wagner shared in December 2016.
— SoFi (@SoFi) January 23, 2018
What does Noto’s departure mean for Twitter?
Insiders and investors are concerned as to what this might mean for Twitter’s future, now that its stock dropped 3.9% on Tuesday morning, and continued to fall throughout the remaining of the afternoon.
This isn’t the only major loss Twitter has had, since Dorsey’s other top dealmaker, Adam Bain, left the company back in 2016. The only remaining chief officers at Twitter (other than its CEO) are now Ned Segal as CFO and Leslie Berland as Chief Marketing Officer.
Twitter’s “in need of a new vision, or they’re going to end up being like Yahoo. Yahoo won early on by being a news aggregator, but other competitors took that away. All things to all people and nothing to nobody. Twitter needs to move quickly and find out what they’re doing,” said Matt Britton, CEO of marketing tech firm, Crowdtap